Cotton prices are experiencing fluctuations, with declines of 45 to 78 points reported on Tuesday following gains of 36 to 85 points on Monday. The US dollar index increased by $0.61, while crude oil prices dropped by $4.61 per barrel.
As of Sunday, 88% of the US cotton crop is squared, aligning with the five-year average, and 55% of the crop is setting bolls. The crop’s condition rating stands at 42% good/excellent, down 4 percentage points from the previous week. Additionally, ICE certified cotton stocks decreased by 3,093 bales as of July 31, now totaling 87,606 bales.
The Cotlook A Index rose by 125 points to 90 cents, while the Adjusted World Price increased by 84 points last week to reach 64.66 cents per pound. Current futures figures include Oct 26 Cotton at 81.35 cents (down 78 points), Dec 26 Cotton at 82.57 cents (down 47 points), and Mar 27 Cotton at 84.13 cents (also down 47 points).
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